VinFast, Japan's Marubeni Corporation sign MOU on repurposing EV batteries
WVR/VNA - On December 18, VinFast, Vietnam’s leading electric vehicle (EV) manufacturer, and Marubeni Corporation, a major Japanese trading and investment conglomerate, officially announced a memorandum of understanding (MoU) to explore opportunities in the secondary use of EV batteries and the potential to establish a circular economy model.
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| VinFast, Japan's Marubeni Corporation sign MOU on repurposing EV batteries: At the signing ceremony (Photo: markettimes.vn) |
The document announcement took place in the presence of Prime Minister Pham Minh Chinh, on the occasion of the Vietnam – Japan Economic Forum and the Commemorative Summit for the 50th Year of ASEAN – Japan Friendship and Cooperation held in Tokyo from December 16-18, 2023.
The MoU marks a significant milestone in the strategic partnership between these two companies, and represents a meaningful effort to reduce greenhouse gas emissions in Vietnam and globally.
Under the document, VinFast and Marubeni will collaborate on researching and manufacturing Battery Energy Storage Systems (BESS) using recycled EV batteries, with VinFast supplying used batteries and Marubeni conducting feasibility assessments, technical consulting, and BESS deployment. Both companies will also work closely together to promote business opportunities in the field of recycled EV batteries, with the aim to establish a circular economic model.
Marubeni plans to leverage exclusive technology from its strategic partner to recycle VinFast's EV batteries, repurposing them into affordable and easily manufacturable BESS without the need for disassembly, processing and repackaging of the batteries.
In May, Marubeni Green Power Vietnam Co., Ltd., a subsidiary of the Marubeni Corporation, signed an agreement with VinES Energy Solution Joint Stock Company, a subsidiary of VinFast and a manufacturer of electric vehicle batteries and BESS products.
(Source: WVR/VNA)
